Waec Model Questions Vol1 2017 Financial Accounting Question 10
Practice objective / multiple choice question 10 from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
XYZ Ltd has a cash‑book balance of ₦48,000. The bank statement for the same period shows a balance of ₦52,300. The following items are identified: - Outstanding checks: ₦4,800, ₦2,500 and ₦1,200\n- Deposits in transit: ₦3,500 and ₦2,200\n- Bank service fee of ₦150 not yet recorded in the cash book\n- Bank interest credit of ₦250 not yet recorded in the cash book\n- The bank mistakenly credited the account with ₦1,000 belonging to another customer\n- The bank collected a note receivable of ₦500 on behalf of the company, not yet recorded in the cash book. What is the adjusted cash‑book balance after all necessary adjustments?
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About This Question
This is Waec Model Questions Vol1 2017 Financial Accounting Question 10. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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